United Group CFO: Since 2019 we spent €1.8bn on investments, and tripled in size

NEWS 10.06.2021 11:41
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Source: Newsmax Adria

"In terms of investments, United Group has been very active over the last 18 months, investing €1.8 billion in organic growth," United Group's Vice President for Finance, Janez Zivko, told Newsmax Adria on Wednesday. According to Zivko, the company has "tripled in size" in that period.

He announced that the company – which owns both N1 television and Newsmax brands – will continue investing in fixed and mobile telephony, the development of 5G technology, and in the production own media content as well as the acquisition of rights to live sports broadcasts.

“Investments are at the heart of our organization, and we hope for such opportunities in the future as well,” Zivko said.

“We will continue to invest in fixed and mobile telephony, as well as in the development of 5G technology, at least in these three countries where we are now present and where we have a mobile operator. We will try to develop an optical network wherever possible, aware that it is a challenge in Serbia because we do not have access to infrastructure and mobile network,” he added.

He added that United Group has ambitious plans to develop a fiber-optic network in Croatia and Greece. “The plan is to invest 25-30 percent of income in new projects,“ Zivko said.

Regarding media production, Zivko said that “by entering two new countries and buying TV Nova in Bulgaria, we significantly increased our presence in the media landscape. You can expect us to continue investing throughout the region.”

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